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Real Estate in Dubai refers to the market for property development and investment in the emirate of Dubai, United Arab Emirates. Real estate is a significant contributor to Dubai's economy, accounting for a substantial portion of the city's GDP . [ 1 ]
Union Properties is a real estate development company headquartered in Dubai, United Arab Emirates. Established in 1987 as Union Property Private Limited, [3] the company was listed on the Dubai Financial Market in 1993. Notable projects undertaken by Union Properties include The Index apartment and office building in Dubai and Dubai Motor City.
Binghatti Holding (commonly known as Binghatti) is a private Emirati real estate development company headquartered in Dubai, United Arab Emirates. Founded in 2008 by Dr. Hussain Binghatti, the company operates in real estate, hospitality, and construction sectors, with a portfolio spanning residential and commercial projects across major Dubai areas such as Business Bay, Downtown Dubai, and ...
The Dubai Mall officially opened in 2008, and Burj Khalifa in 2010. By 2014, Emaar was holding over $11.4 billion in real estate investments. [10] In 2007, the company was majority-owned by Dubai's government. [11]
The formal name of the company is Nakheel PJSC (private joint stock company) and it was a subsidiary of Dubai World and a private state-owned enterprise. [4] [2] Nakheel was central to Dubai's debt crisis in 2009–2010. [5] The company has been reported to be the second-largest property developer in Dubai after Emaar Properties. [6]
The government's decision to diversify from an oil-based economy, and to make Dubai the main hub of tourists in the world, has made and other developmental projects such as Dubailand, more valuable, resulting in the property boom from 2004 to 2007. There are over 1,500 major freehold developments and communities in Dubai. [1]